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Bayesian estimation and demand forecasting: an application for the Netherlands


, : Bayesian estimation and demand forecasting: an application for the Netherlands. Market demand for dairy products: 211-232

There is a wide variety of prediction or forecasting methods. The prediction method dealt with in this paper can be classified as the econometric or causal method. The paper begins with the specification of a demand function before going on to introduce and discuss a Bayesian method. This method is then applied to the prediction of demand for dairy products in the Netherlands. This is achieved through reviewing the performance of different methods for estimating future demand.

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